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FS speaks on Helping Business Programme
The Financial Secretary, Mr Donald Tsang, said today (Thursday) that the Government must engender a helping business culture.
Speaking at a luncheon organised by the British Chamber of Commerce, Mr Tsang said to achieve this, it would require a great commitment by the civil service.
"At the same time, we will be looking for responsible members of the business community to volunteer their thoughts, their ideas and their time; to help us to help business," he said.
"Because at the end of the day, our success in these efforts will mean more and better opportunities for all of you."
The Financial Secretary said Hong Kong was already the best place in the world to do business and "together we can make it even better".
Mr Tsang said business was recognised as the lifeblood of Hong Kong and one of the main tasks of the Financial Secretary must be to ensure that the Government provided the best possible environment for businesses to flourish.
"More business means more jobs," he said. "And a growing economy means more revenue for the Government to provide new and improved services for the public, without raising taxes."
Mr Tsang said to provide the right business environment, the Government deliberately restrained its share of GDP so as to leave the bulk of the economy's resources in the hands of the private sector.
"We believe - we are sure that that is where those resources can be put to their most productive use," he said.
"So we allow Government spending to grow each year only as fast as the trend growth rate of the economy.
"At present Government spending takes up only about 14 per cent of GDP. And even if we broaden the definition to bring in the Housing Authority and the Municipal Councils the public sector- that still adds up to only around 18 per cent, a very low percentage by international standards."
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